Gender Balance in Fintech Platforms - Investigating Factors and Regulatory Response

Abstract

Fintech is a rapidly developing sector that uses digital technologies to deliver accessible and innovative financial platform services. Though fintech as a novel technology encounters challenges such as various risks and uncertainties, significant gender inequalities remain as well. The purpose of this research paper is to investigate how the EU Platform Work Directive, which is a body of law dealing with legal and regulatory questions regarding digital platforms, can potentially enhance the women's representation in fintech, both as leaders, employees and users. The study analyses data from existing sources, collected by desk research of relevant bodies of literature. Considering the complexity of the issue, we have chosen a mixed-methods approach gathering both quantitative and qualitative insights. An online survey is used to gather insights from a diverse audience, including researchers, entrepreneurs, students, and digital platform employees, on gender balance in fintech. The aim of the survey was to collect data about participants' beliefs, level of knowledge and awareness about the issues women face on leadership positions, with potential impact on their underrepresentation as: entrepreneurs, creators of more righteous algorithms, and platform users. This paper contributes to the literature on fintech, gender, and digitalization by providing empirical evidence on the potential benefits of fintech for women's economic empowerment. The paper offers insights on policy implications for enhancing fintech's role in promoting gender equality and sustainable finance. Subsequently, the research addresses channels through which fintech affects female labour outcomes and key values (Non-Discrimination and Fairness, Capacity Building and Tech Literacy, Work-Life Balance, Leadership Development, Consumer Representation). Finally, the paper summarises the results and proposes directions for regulatory response.

Keywords: gender balance, fintech platforms, regulation, Platform Work Directive, key values